Analysis: Stockton, Calif., new paradigm for struggling cities

NEW YORK (Reuters) - Stockton, California, the largest city in the United States to ever file for bankruptcy, could create a new template for struggling cities and potentially lift the stigma that scars municipalities if they seek court protection from creditors. If Stockton, which filed for Chapter 9 municipal bankruptcy on June 28, can reach consensus with its creditors and craft a plan to exit bankruptcy quickly others may follow suit, legal experts said. "Successful cases breed more filings," said Andrew Glenn, a bankruptcy partner in New York at Kasowitz Benson Torres & Friedman. ...